SBS Broadcasting Group (normally referred to as just SBS, which originally stood for Scandinavian Broadcasting Systems) was a European broadcasting group, operating commercial television, premium pay channels, radio stations and related print businesses in Northern, Western and Central and Eastern Europe.
SBS has broadcasting services in Scandinavia (Denmark, Norway and Sweden), Belgium, Bulgaria, Finland, Greece, Hungary, The Netherlands, Romania, and the United Kingdom.
SBS was controlled by funds advised by two private equity firms, Permira and Kohlberg Kravis Roberts. Telegraaf Media Groep N.V. (TMG) of the Netherlands was also a shareholder in SBS, with a 20% equity interest. In 2005, SBS was bought by the equity firms Permira and Kohlberg Kravis Roberts (KKR). They also bought the German broadcaster ProSiebenSat.1 Media in early 2007 and on 27 June 2007 it was announced that ProSiebenSat.1 Media acquired the SBS Broadcasting group for 3.3 billion euros from the joint owners. ProSiebenSat.1 Media became the second largest broadcaster of Europe with 48 TV stations.
SBS was founded by Harry E. Sloan who bought a stake in the Danish station Kanal 2 (Copenhagen) and Norwegian TVNorge. In 1991, Sloan bought the Swedish Nordic Channel, which was soon renamed Kanal 5 and became the third largest commercial broadcaster in the country. The company was originally known as "TV1", but was renamed "Scandinavian Broadcasting Systems" in 1991. After expanding into Benelux and Eastern Europe, the name was changed again, this time to SBS. In the end of 2011 ProSiebenSat.1 Group has sold its Bulgarian radio stations as well as the music channel the Voice TV to A.E. Best Success Services Bulgaria EOOD. The transaction was closed on November 10, 2011.
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Famous quotes containing the words group and/or broadcasting:
“With a group of bankers I always had the feeling that success was measured by the extent one gave nothing away.”
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